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If you budget and do not control the spending then how do you know what is received and spent. If the receipts and spending of the receipts are not controlled then you have uncontrolled spending and since money spends faster than it is earned in most instances one would find themselves without the resources needed for the budget, the project or the results desired in the budgeting process.
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Why do costs need to be controlled and Why is it important to monitor budgets?
Costs need to be controlled because your costs cannot exceed your budget or you will have a negative balance; thus you would not be making any money. you also need to monitor your budgets as your budget always needs to be more than your costs or your business will go out of business.
What is an expence budget?
An expence budget is how much something costs
What are the steps involved in making a budget?
You have to evaluate all of your resources and all of the costs. You need to know what you need to buy and how much it costs. A complete budget will list all of the costs for food, shelter, clothing, insurance, health care, vehicles, entertainment and all other needs. Then you have to determine how much you have to spend and allocate it to the various bills. If you have more bills then you do money, you are living above your means and need to find less expensive alternatives.
Why some company uses budgeted overhead costs rather than actual costs?
the reason was: control the budget,
Do I Have To Include My Business Costs When Working Out My Budget?
It's very important to work out a budget if you have business or personal debts you are struggling to pay. To help you work out how much your business will pay you, in case you are a sole trader or a partner in a partnership you'll have to work out a business budget.
Why do costs need to be controlled and Why is it important to monitor budgets?
Costs need to be controlled because your costs cannot exceed your budget or you will have a negative balance; thus you would not be making any money. you also need to monitor your budgets as your budget always needs to be more than your costs or your business will go out of business.
A statistic planning budget is suitable for planning and for evaluating how well costs are controlled true or false?
A static planning budget is suitable for planning and for evaluating how well costs are controlled.
What word describes a budget that is tightly controlled?
A stringent budget.
What is an expence budget?
An expence budget is how much something costs
Is direct cost and controlled cost the same?
No direct cost and controlled costs are both separate costs.
Why does an organization have to control costs?
A budget
What word mean a tightly controlled budget?
i
What are the steps involved in making a budget?
You have to evaluate all of your resources and all of the costs. You need to know what you need to buy and how much it costs. A complete budget will list all of the costs for food, shelter, clothing, insurance, health care, vehicles, entertainment and all other needs. Then you have to determine how much you have to spend and allocate it to the various bills. If you have more bills then you do money, you are living above your means and need to find less expensive alternatives.
The main difference a flexible budget and a static budget is that a flexible budget does not contain fixed costs true or false?
true
What is a budget worksheet used for?
A budget worksheet is used for a way to sort out the funds you have against the costs. It allows one to have a educated guess to how much can be completed on a particular project against the total budget - the costs of materials and/or labour.
Why is there a need to study math?
So that you can do the basic things necessary to be successful in life. You need to be able to make a budget, make change, track costs and take care of things.
What is an example of a recurring expense for a household budget?
An example of a recurring expense for a household budget is the rent or mortgage. Other examples are food costs, the phone bill and electricity costs.
